Serve Robotics Inc (NASDAQ:SERV) shares, rose in value, with the stock price down by -2.65% to the previous day’s close as strong demand from buyers drove the stock to $11.37.
Actively observing the price movement in the last trading, the stock closed the session at $11.68, falling within a range of $10.96 and $12.64. Referring to stock’s 52-week performance, its high was $37.00, and the low was $1.77. On the whole, SERV has fluctuated by 42.30% over the past month.
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With the market capitalization of Serve Robotics Inc currently standing at about $487.91 million, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Aug-13.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 2.15M, with a low estimate of 130k and a high estimate of 500k. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 310k.
The stock’s technical analysis shows that the price of SERV currently trading nearly 18.54% and 29.97% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 62.77, while the 7-day volatility ratio is showing 14.45% which for the 30-day chart, stands at 12.45%. Furthermore, Serve Robotics Inc (SERV)’s average true range (ATR) is 1.23.
Data on historical trading for Serve Robotics Inc (NASDAQ:SERV) indicates that the trading volumes over the past 10 days have averaged 7.28 and over the past 3 months, they’ve averaged 8.80 million. According to company’s latest data on outstanding shares, there are 36.94 million shares outstanding.
Nearly 36.73% of Serve Robotics Inc’s shares belong to company insiders and institutional investors own 14.26% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 5.17 million shares as on 2024-10-15, resulting in a short ratio of 1.1. According to the data, the short interest in Serve Robotics Inc (SERV) stood at 1812.00 of shares outstanding as of 2024-10-15; the number of short shares registered in 2024-09-13 reached 3.88 million. The stock has fallen by -54.52% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SERV stock heading into the next quarter.
